Massive embezzlement scandal unveiled: 4 arrested in Agriculture Development Multipurpose Cooperative case

Kathmandu: Four individuals, including the Chairman of the Agriculture Development Multipurpose Cooperative located in Kumaripati, Lalitpur, have been apprehended on allegations of embezzling a staggering Rs 942.3 million.

The Kathmandu Valley Crime Investigation Office disclosed the arrests on Sunday, publicly identifying Tej Bikram Thapa as the primary suspect implicated in the embezzlement scandal. Thapa serves as the chairman of the cooperative. Also detained were Sajna Rajkarnikar, the cooperative’s manager, and members Bhimsen Maharjan and Sanjay Sapkota.

The arrests come in response to complaints filed by 566 depositors who raised concerns over irregularities in the cooperative’s financial operations. Concurrently, a parliamentary committee investigating cases of fraud within cooperatives has initiated its own inquiry into the matter.

The cooperative, a longstanding institution in the area, has faced mounting scrutiny amidst allegations of financial misconduct. The ongoing investigation aims to uncover the full extent of the alleged embezzlement and provide restitution to affected depositors.

Authorities are intensifying efforts to restore confidence in cooperative institutions while ensuring accountability and justice for victims of financial malpractice.

This high-profile case underscores the importance of robust oversight and regulatory measures in safeguarding public funds and maintaining trust in financial institutions across Nepal.

Further developments are anticipated as investigations into the Kumaripati cooperative embezzlement continue to unfold.